All Forum Posts by: Thomas Marshall

Hi all,

I’m sorry if I seem a little novice but I’m still learning, so bear with me...

So I've been trying to secure a house in a new build community, that I cannot get qualified to use my VA eligibility for, in the time between now and when we have to move out of our leased house. I found a hard money lender, that lends on owner occupied homes and also a bridge loan lender that will lend for 12mos (high interest and all) but both companies require a significant down payment (35% hard money and 25% bridge loan). To avoid moving my large family more than once, I want to know if there are any 2nd/jr lien lenders -OR - investor/venturers that would like to invest in the down payment requirement, in exchange for part equity ownership as a passive investment?

In my head it all makes sense, but I may not be saying it right, so sorry if that was confusing. 

Ultimately, my goal is to secure the house, so that we can move there once we close and refi into the VA mortgage once my score improves.

Any suggestions on how I can possibly get this done as soon as possible? Is this a thing? 

Thanks!!

Tom

@Chris Seveney Thank you for the reply. So the scenario presented, was a hard money loan primary that will fund at 65% ltv. The buyers are looking to have an investor front the down payment in exchange for ownership of the equity after 3-5 years of appreciation.  From what I’ve been able to read up on it, companies like Unison do that, but up to 20%. My first thought was to suggest asking the seller to carry-back the amount they needed but thought to myself, there’s gotta be a market for this kind of thing. Plus the house is in a new build community that’s roughly 70% complete. The appreciation rate on the home they want has been pretty decent in recent months (+$25k within the last six months). 

Since I’m relatively new to this, I wanted to run it by the pros, to see if it would even make sense to consider in the future. 

Hi all!

I'm brand new to the site and not very knowledgable when it comes to lending... However, I want to know if there are deals where buyers can use the help of an investor to cover the cost of a downpayment, in exchange for part equity ownership?